TD Private Client Wealth LLC Trims Stock Holdings in Alphabet Inc. (NASDAQ:GOOGL)

TD Private Client Wealth LLC reduced its holdings in shares of Alphabet Inc. (NASDAQ:GOOGL) by 5.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 111,705 shares of the information services provider’s stock after selling 6,709 shares during the quarter. TD Private Client Wealth LLC’s holdings in Alphabet were worth $18,526,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GOOGL. Schear Investment Advisers LLC raised its stake in Alphabet by 17.0% during the third quarter. Schear Investment Advisers LLC now owns 33,751 shares of the information services provider’s stock valued at $5,598,000 after buying an additional 4,905 shares in the last quarter. Trinity Financial Advisors LLC raised its position in shares of Alphabet by 4.5% during the 3rd quarter. Trinity Financial Advisors LLC now owns 4,423 shares of the information services provider’s stock valued at $771,000 after acquiring an additional 190 shares in the last quarter. Landscape Capital Management L.L.C. lifted its stake in Alphabet by 27.9% during the third quarter. Landscape Capital Management L.L.C. now owns 25,275 shares of the information services provider’s stock worth $4,192,000 after purchasing an additional 5,516 shares during the last quarter. abrdn plc lifted its stake in Alphabet by 10.7% during the third quarter. abrdn plc now owns 6,305,717 shares of the information services provider’s stock worth $1,037,196,000 after purchasing an additional 611,233 shares during the last quarter. Finally, StoneCrest Wealth Management Inc. boosted its holdings in Alphabet by 0.7% in the third quarter. StoneCrest Wealth Management Inc. now owns 21,509 shares of the information services provider’s stock worth $3,567,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 40.03% of the company’s stock.

Insider Transactions at Alphabet

In other news, CAO Amie Thuener O’toole sold 2,834 shares of Alphabet stock in a transaction on Monday, December 16th. The stock was sold at an average price of $197.55, for a total transaction of $559,856.70. Following the transaction, the chief accounting officer now owns 20,681 shares in the company, valued at approximately $4,085,531.55. The trade was a 12.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Frances Arnold sold 441 shares of the company’s stock in a transaction on Monday, November 4th. The shares were sold at an average price of $171.06, for a total value of $75,437.46. Following the transaction, the director now directly owns 16,490 shares in the company, valued at $2,820,779.40. The trade was a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 178,957 shares of company stock valued at $31,358,687 over the last ninety days. Corporate insiders own 11.55% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GOOGL. KeyCorp increased their target price on shares of Alphabet from $200.00 to $215.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. JMP Securities increased their price objective on shares of Alphabet from $200.00 to $220.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 30th. Scotiabank upgraded Alphabet to a “strong-buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group reiterated a “buy” rating and set a $210.00 price target on shares of Alphabet in a research report on Thursday, December 12th. Finally, Pivotal Research raised their price target on Alphabet from $215.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Seven research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and five have given a strong buy rating to the stock. According to data from MarketBeat.com, Alphabet has an average rating of “Moderate Buy” and a consensus target price of $206.69.

Alphabet Price Performance

NASDAQ GOOGL opened at $188.40 on Thursday. The stock has a market capitalization of $2.31 trillion, a P/E ratio of 24.99, a P/E/G ratio of 1.39 and a beta of 1.01. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.95 and a current ratio of 1.95. The business’s fifty day moving average is $173.46 and its two-hundred day moving average is $171.09. Alphabet Inc. has a 1 year low of $130.66 and a 1 year high of $201.42.

Alphabet (NASDAQ:GOOGL) last announced its earnings results on Tuesday, October 29th. The information services provider reported $2.12 EPS for the quarter, beating the consensus estimate of $1.83 by $0.29. Alphabet had a return on equity of 31.66% and a net margin of 27.74%. The business had revenue of $88.27 billion during the quarter, compared to the consensus estimate of $72.85 billion. During the same period in the prior year, the business posted $1.55 earnings per share. On average, research analysts forecast that Alphabet Inc. will post 8.01 earnings per share for the current fiscal year.

Alphabet Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, December 16th. Shareholders of record on Monday, December 9th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 0.42%. The ex-dividend date of this dividend was Monday, December 9th. Alphabet’s payout ratio is 10.61%.

Alphabet Profile

Alphabet Inc offers various products and platforms in the United States, Europe, the Middle East, Africa, the Asia-Pacific, Canada, and Latin America. It operates through Google Services, Google Cloud, and Other Bets segments. The Google Services segment provides products and services, including ads, Android, Chrome, devices, Gmail, Google Drive, Google Maps, Google Photos, Google Play, Search, and YouTube.